The Consumer Financial Protection Bureau this week retreated from an investigation into J.G. Wentworth, a year after suing the financial services firm in Philadelphia federal district court to force the company to disclose thousands of pages of documents. The CFPB had issued the CID to J.G. Wentworth in September 2015 to investigate alleged violations of …
CFPB Backs Off From Investigating J. G. Wentworth Read More »
If it was largely “business as usual” for investors once the initial furor over Dodd-Frank passed, what happens now that the current administration might succeed in repealing the act? According to House Financial Services Committee Chairman Jeb Hensarling (R-TX), the biggest effect of the CHOICE act will be to strip a great deal of power …
3 Ways Dodd-Frank Repeal Will Affect Real Estate & Notes Read More »
A new 50-State Property Tax Comparison Study reveals that cities with the highest property taxes are often those struggling to make ends meet. For example, Detroit, which has the highest effective tax rate on a median valued home (3.82%), has by far the lowest median home value of the cities covered in the report. It …
The US House on Thursday passed the CHOICE Act, reversing much of the overregulation of Dodd-Frank, including the Consumer Financial Protection Bureau (CFPB). Democrats created the CFPB as an independent agency, accountable to no one – not even the president. A single, unelected bureaucrat was inappropriately given jurisdiction over regulating mortgages, credit cards, bank accounts, …
In recent months, real estate professionals have reported an upswing in a particularly insidious wire scam. A hacker will break into a licensee’s e-mail account to obtain information about upcoming real estate transactions. After monitoring the account to determine the likely timing of a close, the hacker will send an e-mail to the buyer, posing …
ALERT: Wire Fraudsters Targeting Real Estate Transactions Read More »
From the May, 2017 PAPER SOURCE JOURNAL: The good news is that the number of seller-held notes of all types created in 2016 was 62% more than in 2009. And notes created in 2016 secured by commercial property and land were down just 3% compared to 2015. The not-so-great news is that the number of newly-created residential seller-held notes dropped 16% in 2016 vs. 2015, according to …
Before the housing meltdown, Maryland’s foreclosure process was so quick that it was nicknamed “the rocket docket.” Foreclosures had to be filed in local courts and approved by judges, but the court’s involvement was so minimal and the deadlines so swift that a lender could schedule a foreclosure sale 15 days after the borrower defaulted. …
Adding to the growing body of cases disputing the Consumer Financial Protection Bureau’s (CFPB) authority to issue civil investigative demands (CID), a U.S. district court judge in the Central District of California, on May 17, rejected multiple challenges and ordered a company to comply with a CID within fifteen days of the decision. The defendant, …
California Judge Upholds Constitutionality of CFPB and Enforces a CID Read More »
With the recent ransomware attack taking its toll on nearly a quarter of a million computers and affecting millions of users and their customers around the world, the question in the minds of many right now is, “How do I protect myself from something like this?” Fortunately, the solutions are simple, even if some of …
How to Protect Yourself From a Ransomware Attack Read More »
Perspectives on tax reform, global real estate investing, and more at the NAR Legislative Meetings and Trade Expo: http://realtormag.realtor.org/daily-news/2017/05/18/word-from-dc-tax-reform
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